Find out more about Papaya Global Online Documents ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and reliable method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a considerable quantity of time monthly. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Employee Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to worldwide employees no matter the number of workers in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local advantages providers in every nation, produce regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses distributed per place, overall work expenses per cycle and far more.
environments around the world I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and building external relationships supporting Enterprise clients and solutions along with acting as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a range of various functions on the supplier side and also on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a burdensome job into a tactical possession.
Managing payroll globally is a difficult job due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer variety of employees and services contributes to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual processes, information silos, and an absence of combination, resulting in disparities and inefficiencies. Regardless of living in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to offer insights and options to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of presence likewise reaches payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of global services have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they rely on the needed multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good question I constantly toss this back and state what is it what does not need to be consisted of best and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to sort of progress with that it also as well to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to add to sort of the level of intricacy there's a growing number of benefits being organ or being used by organizations throughout the world so once again you're simply looking to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or real difficult kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any organization has from an expense point of view from an impact perspective on workers it is definitely critical that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging impact on people's well-being and lots of other aspects if people aren't paid uh I have actually always been astonished entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Using the very first Worldwide Payments first payroll payment service is an excellent preliminary action towards supplying a comprehensive payroll option for staff members worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account necessary for international payroll are key consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we know how how crucial a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and kind of try to return to everybody so moving on look why do business select to main separate bank accounts there are organizations out there doing precisely this for particular nations and I've operated in an organization or numerous organizations doing precisely that I can state it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs altering however eventually people are very stuck with what they're familiar
with ideal um modification is a difficult thing all of us do not like modification um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having preserving multiple savings account but there's a huge amount of complexity opts for establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is substantial but I believe the honest answer is modification um people have not been able to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or so there is a lot to keep track of and this approach does pose several difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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